Total Employed Decrease by 159,000 in July

Discussion in 'Economy' started by boedicca, Aug 6, 2010.

  1. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The incredible shrinking workforce of Obamanomics continues. The BLS reports that total Employed shrank by 159,000 in July, while those not in the labor force increased by 381,000.

    Employment Situation Summary Table A. Household data, seasonally adjusted

    Due to the increase in discouraged workers who have given up looking, unemployment remained at 9.5% - a level which Tim Geithner recently predicted would increase over the next few months as a "sign of recovery".

    The Spin is getting very desperate. No wonder Romer quit yesterday.

    Obanomics = Epic Fail
     
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  2. edthecynic
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    edthecynic Censored for Cynicism

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    At this same point in St Ronnie's first term UE was 9.8% and rising, so Obama is still less of an epic failure than Reagan.
     
  3. uscitizen
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    uscitizen Senior Member

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    And this is different in what way from the Bush admins spin on the economy and jobs?
     
  4. Gremlin-USA
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    Gremlin-USA <<< Me in 1970

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    When and I use that term when loosely, BO gets the UE Rate below 7% you may have a valid point until then, quit the Spinning before you get your self dizzy and puke :lol:
     
  5. edthecynic
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    edthecynic Censored for Cynicism

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    You just can't handle the fact that Obama is doing a better job than 9/11 Reagan. UE was lower and stable when St Ronnie became president so it was not a growing disaster passed on to him. St Ronnie was the worst president in history.
     
  6. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    No he's not. The country went into a recession in 1981. Reagan's tax cuts spurred real economic growth so that at the equivalent period after the recovery began, GDP growth was over triple the Obama version. GDP growth is a leads to private sector job creation - which was subsequently quite strong beginning in mid 1983 throughout the rest of Reagan's terms (unemployment was a bit above 5% when he left office).

    Obama is headed on the opposite trajectory. Slower growth - private sector job creation far below the rate to keep up with population growth. The only way he'll achieve 5% unemployment is for millions more workers to GIVE UP LOOKING FOR WORK BECAUSE THERE ARE NO JOBS.

    And here's another difference: under Reagan, unemployment checks were not promoted as a valid career choice and stimulus initiative. Obama is lost without a clue as to what creates productive work and real jobs.
     
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  7. edthecynic
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    edthecynic Censored for Cynicism

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    You got it ass backwards. Reagan's tax cuts passed in July 1981 with UE at 7.2% and then immediately afterwards we went into the Reagan Recession with UE peaking at 10.8% in Nov and Dec 1982.
     
  8. topspin
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    topspin BANNED

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    Democrats usually do better for us in the investor class. Obama has 1year in at plus 40 percent. Nice
     
  9. AquaAthena
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    AquaAthena INTJ/ INFJ

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    From my understanding, Romer has not been in favor of all the spending nor the up and coming tax increase on employers...er....wealthy. :cuckoo:

    Unemployment is 10.5 in Oregon. More on the coast. Many businessess have closed.
     
  10. Dr.House
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    Dr.House Lives on in syndication!

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    I'm sure the 1 (or more) out of 10 people out of work or who have given up looking for work are comforted by the liberals words of "well, it's not as bad as it was for Reagan at this point of his Presidency"....


    Seriously, some of you libs are batshit looney tunes and completely out of touch with real America...
     

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